As the developer and landlord of commercial, office and warehouse space in Palm Beach County, Danburg Properties of Boca Raton has a unique perch from which to view situations and conditions that affect the local economy – and greater economic climate.

We own one million square feet of space in the area. So insurance hits home in a dramatic way. We’re also landlord to hundreds of tenants, whose businesses can be dramatically affected by storms – and the costs they bear.

This is an especially important as South Florida prepares to head into the 2013 Atlantic hurricane season.

One observation is the impact events like Superstorm Sandy and ever-stronger hurricanes developing earlier and later in the season are having on windstorm insurance rates for retail, commercial and warehouse property owners – and tenants who run their businesses there.

In its recent report, “Are You in the Path of a Rate Increase Storm? – The Impact of Superstorm Sandy on the Property Insurance Market,” Gallagher Property Practice revealed the implications of major storms, both on affected markets – and those thousands of miles away.

“Whenever a catastrophic weather event devastates a region, it has ripple effects across not only the localized insurance markets but nationally as well. Superstorm Sandy will no doubt carry this same impact,” the authors wrote.

Companies that sustained damages will see increases in insurance costs, the report notes. They looked back to Hurricane Katrina and, earlier, to Hurricane Andrew in 1992. At the time, Andrew was the worst storm ever to hit a U.S. coast. Losses topped $26.5 billion, including wind, rain and flood damage.

Here in South Florida, insurance premiums at the time were a fraction of what they grew to in the years after Andrew’s landfall. Today, they’re higher by magnitudes – assuming consumers and business owners can get insurance coverage at all.

As storms grow intense, insurers are learning their lessons and limiting their exposure. After each significant event, rates can be expected to rise. But it may be time for business owners and insurers to work as partners in preparing for catastrophic events.

Following the fallout from Sandy, “Carriers may also look to encourage business owners to purchase the insurance necessary to guard against losses from future disasters like Superstorm Sandy,” the authors wrote. “Should they succeed, business owners everywhere will rest more easily the next time Mother Nature delivers big-ticket trouble.”

If you have any questions about your coverage ahead of the 2013 Atlantic hurricane season, now’s the time to reach out to your insurance provider. Prepare now so you’re ready later.